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Insolvency and Restructuring Lawyers in Romania

When a company faces financial distress, timely legal advice can make the difference between a successful recovery and insolvency. LegalHunt’s insolvency and restructuring lawyers help businesses and creditors navigate financial distress with clear and commercially focused advice. Our team of legal experts will guide you through every step of the way with clear and practical legal solutions.

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Client Representation

We assist creditors with filing claims and debtors in defending them. We ensure protection under insolvency laws through active participation in all related meetings and proceedings

Restructuring and Reorganization

Advising on restructuring to enhance viability, assess creditor impacts, and implementing reorganization plans compliant with legal requirements for sustainable business recovery

Legal and Regulatory Compliance

Ensuring adherence to Romanian insolvency laws and effectively managing cross-border insolvency cases with international coordination.

Legal Support in Insolvency and Restructuring

LegalHunt represents both creditors and debtors in insolvency and restructuring proceedings. We assess each client’s legal position and define the most effective strategy to protect their rights. Our lawyers handle negotiations, provide representation before the courts and throughout the procedure, and support businesses pursuing either a viable reorganisation or an orderly closure.

Preventive Restructuring

Our legal experts support companies experiencing financial pressure before insolvency becomes unavoidable. We assess the available restructuring routes, support discussions with creditors and, finally, work toward solutions that protect business continuity.

Creditor Representation

We help creditors protect and enforce their rights throughout insolvency proceedings. Our lawyers handle the registration and defence of claims, participate in creditor decisions and develop the appropriate recovery strategies.

Debtor Representation

In cases where clients face creditor claims or the risk of insolvency, we assess the legal and financial context and prepare a realistic restructuring or reorganisation strategy.

Reorganisation and Bankruptcy

We provide legal support throughout reorganisation and bankruptcy proceedings, from the preparation and implementation of reorganisation plans to disputes arising during liquidation. Additionally, we can offer advice on creditor distributions and ensure the procedure is carried in accordance with Romanian law.
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Restructuring, Reorganization or Bankruptcy

A company facing financial difficulty has several legal options, depending on the severity of the case or the business’ recovery chances. The right approach depends on the client’s financial position, debt structure, available assets, ongoing contracts, the creditors involved and the realistic prospects of restoring stability.

Preventive Restructuring

For cases where the company experiences financial financial pressure, but formal insolvency can be avoided. Preventive restructuring allows the business to negotiate with creditors and put in place measures designed to preserve operations and improve its financial position.

Business Reorganization

Business reorganization is a legal process for cases where the company remains viable but needs significant changes in order to continue. Generally, it involves restructuring debts, adjusting operations, reviewing contractual arrangements and redefining the relationship with creditors under a sustainable recovery plan.

Bankruptcy and Liquidation

Bankruptcy and liquidation are used when the business can no longer be restored through a realistic and sustainable plan. In such cases, the procedure focuses on bringing the company’s activity to an orderly end, resolving outstanding obligations and distributing available assets in accordance with Romanian law.
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Insolvency Disputes and Court Representation

Insolvency proceedings often result in disputes that require timely and carefully coordinated legal action. LegalHunt provides strategic advice and court representation throughout these proceedings, protecting the client’s position and responding to challenges as they arise.

Our services include:

  • Challenges to the creditors’ table;
  • Disputes concerning claims and security interests;
  • Challenges to decisions adopted by creditors’ meetings;
  • Liability claims involving directors or other parties;
  • Disputes concerning transactions and asset transfers;
  • Appeals and other court proceedings.

How LegalHunt Handles Insolvency Cases

1. Case Assessment

LegalHunt begins by reviewing the company’s financial position, existing claims, contracts, assets and the current stage of any proceedings. With this legal information, our lawyers will understand the commercial context and identify the issues that require immediate attention.

2. Legal Strategy

Based on the findings, we determine the most appropriate restructuring, recovery, defence or insolvency strategy. Clients receive clear and practical advice on the available options and the likely consequences of each course of action.

3. Negotiation and Representation

Our lawyers represent clients in negotiations, creditor meetings, disputes and court proceedings. LegalHunt combines a solution-focused approach with firm legal representation to protect the client’s position throughout the process.

4. Ongoing Legal Support

We remain involved as the case develops and provide consistent assistance throughout restructuring, reorganisation, bankruptcy or debt recovery proceedings.
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Frequently Asked Questions

What is the difference between insolvency and bankruptcy in Romania?

Insolvency describes a company’s inability to pay its due debts with the funds available and may lead to either reorganisation or bankruptcy. Bankruptcy is the liquidation stage of the insolvency procedure, during which the company’s assets are sold to cover its debts and the company is generally removed from the relevant register.

A company should consider restructuring as soon as financial pressure begins to threaten its ability to meet future payment obligations. Acting early creates more room to negotiate with creditors and avoid formal insolvency where recovery remains realistic.

Yes. A creditor may request the opening of insolvency proceedings when it holds a certain, liquid and due claim that has remained unpaid for more than 60 days and exceeds the statutory threshold, which is currently RON 50,000 for non-employment claims.

The creditor must submit a claim admission request to the competent tribunal within the deadline established by the decision opening the procedure. The request should identify the amount and legal basis of the claim and include the supporting documents.

Yes, a company may continue its ordinary business activities during the observation period, usually under the supervision of the judicial administrator. Transactions outside the ordinary course of business may require additional approval, depending on their nature and the company’s procedural status.

A reorganisation plan sets out how a viable company intends to continue operating while addressing its debts. It may include financial or operational restructuring, changes to the company’s structure, the sale of certain assets and a schedule for payments to creditors.

Secured creditors benefit from priority in relation to the assets securing their claims, subject to the costs and payment rules established by insolvency law. When the value obtained from the secured asset does not cover the entire debt, the remaining amount is treated according to the legal category applicable to the unsecured part of the claim.

Yes. Foreign creditors generally have the same rights as Romanian creditors to request the opening of proceedings, register their claims and participate in the procedure. They must still comply with the applicable Romanian filing requirements and procedural deadlines.

The duration depends on the complexity of the company’s financial situation, the number of creditors, pending disputes, the assets to be recovered or sold and whether a reorganisation is attempted. Romanian law provides specific timeframes for certain stages, but the overall procedure may last from several months to several years.

Discuss Your Insolvency or Restructuring Matter

Whether you are seeking to recover a claim, respond to insolvency proceedings or restructure a business facing financial difficulty, our insolvency lawyers specialized in Romanian law can assess your position and explain the available legal options.


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